Shadow Banking System Lost One-Third of Value in 2009

More than one in three dollars lent by non-bank institutions such as hedge funds, securitisation vehicles and pension funds, went sour, according to the figures, compared with 11.5 per cent for US banks.

Look at this! The financial crisis hasn't gone away, but simply swept under the rug?

The results will increase fears that, in spite of a recovery in the shares and balance sheets of many banks, the epicentre of the crisis has moved to the hedge funds and investors that gorged on cheap credit in the run-up to the turmoil.

This is from an regulator audit of shared national credits. The article does not say which regulators issued this report.